Teledyne Technologies (NYSE:TDY) Stock Price Expected to Rise, Bank of America Analyst Says

Teledyne Technologies (NYSE:TDY) had its price objective boosted by equities researchers at Bank of America from $550.00 to $600.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Bank of America‘s target price would indicate a potential upside of 22.02% from the stock’s current price.

Several other research analysts have also issued reports on TDY. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. UBS Group initiated coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies currently has an average rating of “Buy” and an average price target of $548.00.

Teledyne Technologies Trading Up 2.2 %

NYSE TDY opened at $491.72 on Monday. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies has a twelve month low of $355.41 and a twelve month high of $522.50. The company has a market cap of $23.03 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The business’s fifty day moving average is $493.19 and its 200 day moving average is $469.87.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $5.44 EPS. As a group, sell-side analysts expect that Teledyne Technologies will post 21.55 EPS for the current fiscal year.

Insider Activity

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the transaction, the chief operating officer now owns 10,482 shares in the company, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of Teledyne Technologies stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the transaction, the vice president now owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock worth $17,709,721 in the last three months. Company insiders own 2.14% of the company’s stock.

Hedge Funds Weigh In On Teledyne Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in Teledyne Technologies during the 4th quarter valued at about $28,000. Brooklyn Investment Group purchased a new position in shares of Teledyne Technologies in the 3rd quarter worth approximately $32,000. Hurley Capital LLC purchased a new position in shares of Teledyne Technologies in the 4th quarter worth approximately $33,000. Ancora Advisors LLC boosted its stake in shares of Teledyne Technologies by 192.3% in the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 50 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Teledyne Technologies in the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.